By now you’re aware of the importance of keeping your credit score strong by paying your credit card bills, mortgage, and other loans on time and keeping your credit utilization (how much of your available credit you use) low (10 percent or less is best). But did you know that paying your phone bill late could hinder your ability to get credit? According to an article on Time.com, with surging delinquencies on everything from credit card payments to home loans, lenders are looking beyond credit scores to assess risk.
This article highlights the reason to sign up for e-mail alerts telling you when payments are due. We pay our mortgage and some bills, such as those for electricity and gas, automatically. Others we want to look at more closely before making payment, so we have signed up for alerts. Have you signed up for payment-due alerts for all of your bills?